Book An Appraisal

Mortgage stress rising along with rates

There are fears the Reserve Bank's rapid succession of interest rate rises will lead to more young Australians being crippled by mortgage stress.

Yesterday the Reserve Bank (RBA) moved rates up 0.25 percentage points to 4.5 per cent - the sixth increase in eight months.

The rises come on the back of record low interest rates during the global financial crisis.

Aussie Home Loans chief John Symond says many people have been unprepared for the recent spate of rate rises."That's the unfortunate downside in borrowing money, particularly at a cycle where we were having interest rates at historic lows and now very rapidly interest rates have been increased by the Reserve Bank," he said.

Subscribe to Alan Reay Real Estate Hot Property Alerts

Sick of missing out on your dream home or investment?

Simply fill in the form below and you will receive details of all our new homes delivered to your inbox before they reach the open market, guaranteeing that you will be the first to know. Don't miss out again!

There are only a small percentage of people who move into real estate who are successful, we think the reason is simple; you have to care about people. Real estate transactions can’t be impersonal, they have to be people focused, and that’s why we pride ourselves on our personal touch.